Myanmar's Yangon regional government will cooperate with a South Korea-based Myanmar Wooree Company in developing Yangon region.

Under a memorandum of understanding signed between the two sides in Yangon on the weekend, the industrial development project area lies on the west bank of the Yangon River and near the ongoing project area of the Yangon-Dala Bridge, which is a friendship bridge between Myanmar and South Korea.

Yangon Region Chief Minister U Phyo Min Thein said the bridge will benefit the industrial zone area implemented by the South Korean company and bring economic development to the region.